CA-RIVIAN
12.12.2022 09:31:43 CET | Business Wire | Press release
Electric vehicle manufacturer Rivian has today announced it is pausing plans to produce its electric commercial vans in Europe and will therefore no longer pursue the Memorandum of Understanding with Mercedes-Benz. This Memorandum of Understanding was signed in September 2022.
RJ Scaringe, Chief Executive Officer of Rivian:
“We’ve decided to pause discussions with Mercedes-Benz Vans regarding the Memorandum of Understanding we signed earlier this year for joint production of electric vans in Europe. As we evaluate growth opportunities, we pursue the best risk-adjusted returns on our capital investments. At this point in time, we believe focusing on our consumer business, as well as our existing commercial business, represent the most attractive near-term opportunities to maximize value for Rivian. We share the same goal as Mercedes-Benz Vans, to help the world transition to electric vehicles, and we look forward to exploring opportunities with them at a more appropriate time for Rivian.”
Mathias Geisen, Head of Mercedes-Benz Vans:
“Our collaboration with the Rivian team has been based on a common engineering passion and a strong spirit of partnership. That’s why I respect and understand the decision of Rivian to prioritize the delivery of their consumer business and existing commercial business in the near-term. While the timeline for our common European production joint venture is now on hold, the pace of our own electrification strategy at Mercedes-Benz Vans remains unchanged. The ramp-up plan for our new EV manufacturing site in Jawor, Poland is not affected. We will continue with full speed and determination to scale up electric vehicle production in our first dedicated electric van plant – designed for maximum flexibility and productivity. Exploring strategic opportunities with the team at Rivian in the future remains an option, as we share the same strategic ambition: accelerating the EV adoption with benchmark products for our customers.”
Rivian is building a brand and product portfolio with the objective of maximizing impact in the shift to carbon-neutral transportation. The R1T, R1S, and Electric Delivery Van (“EDV”) last-mile delivery vans are Rivian’s first vehicles in the consumer and commercial space. The R1T and R1S are flagship products for Rivian, uniquely combining performance, utility, and efficiency – see Rivian.com for further information. On the commercial side Rivian launched the EDV, which was designed and engineered by Rivian in collaboration with Amazon, as an anchor product to combat climate change at scale in the fleet market.
About Rivian
Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships. Learn more about the company, products, and careers at rivian.com.
Forward-looking statements:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that do not relate to matters of historical fact should be considered forward-looking statements and are often identified by terms such as “will,” “should,” “target,” “aim,” “expects,” “plans,” “intends,” “targets,” or “believes” or the negative of these terms or other similar expressions. These forward-looking statements speak only as of the date when made, and Rivian undertakes no obligation to publicly update or revise any forward-looking statements, except as required by applicable law. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. A discussion of other risks and uncertainties is contained in Rivian’s filings with the U.S. Securities and Exchange Commission.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005259/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
VahatiCor Appoints Harry D. Rowland, Ph.D., as Chief Executive Officer18.5.2026 08:00:00 CEST | Press release
Endotronix co-founder and former CEO joins VahatiCor as the company advances the A-FLUX Reducer System® and the SERRA-I early feasibility study VahatiCor, Inc., a medtech company developing interventional therapies for Coronary Microvascular Dysfunction (CMD), announced today the appointment of Harry D. Rowland, Ph.D., as Chief Executive Officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260517830314/en/ VahatiCor CEO, Harry D. Rowland, Ph.D. Rowland previously served as Chief Executive Officer and President of Endotronix, where he led the development and commercialization of the Cordella™ Pulmonary Artery Sensor and Heart Failure System. Under his leadership, Endotronix raised over $150 million and grew to more than 150 employees. He also oversaw the PROACTIVE-HF pivotal trial from execution through FDA premarket approval and commercial launch. Following its acquisition by Edwards Lifesciences in 2024, Rowland stayed o
Modon Partners With Montage Hotels & Resorts to Bring Ultra-Luxury Hospitality Brand to Egypt’s Ras El Hekma17.5.2026 13:53:00 CEST | Press release
Montage Ras El Hekma introduces the first branded residences for purchase at the Mediterranean destination, alongside the region’s first Montage resort Abu Dhabi-based Modon Holding and Montage Hotels & Resorts have announced Montage Ras El Hekma, which will introduce the first branded residences for purchase at Ras El Hekma on Egypt’s Mediterranean coast. This is the first Montage resort in Egypt – supporting the emerging city’s growth as a global hub for leisure, business and tourism. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260517167234/en/ Modon partners with Montage Hotels & Resorts to bring ultra-luxury hospitality brand to Egypt’s Ras El Hekma (Photo: AETOSWire) Montage Ras El Hekma will feature 200 guestrooms and suites, in addition to 96 Montage Residences, and will offer a curated mix of wellness and leisure amenities, including beachfront swimmable lagoons, a Spa Montage with 13 treatment rooms, and six dini
Istituto Nazionale Tumori IRCCS Fondazione G. Pascale Selects MEVION S250-FIT™ for Southern Italy’s First Proton Therapy Center17.5.2026 08:00:00 CEST | Press release
Compact, vault-integrated platform selected through a competitive European tender will bring proton therapy to patients across Southern Italy. Mevion Medical Systems, the global leader in compact proton therapy, today announced that it has been selected to deliver the MEVION S250-FIT Proton Therapy System™ to Istituto Nazionale Tumori IRCCS Fondazione G. Pascale in Naples. The award, made following a competitive European tender, will establish the first proton therapy center in Southern Italy, significantly expanding access to advanced radiation therapy for patients across the region and reducing the need for patients to travel long distances to northern Italy for care. Until now, proton therapy in Italy has only been available at centers located in Northern Italy, requiring patients from Southern Italy to travel significant distances for care. The Pascale project supports a broader strategy to establish Naples as a leading oncology hub and to improve healthcare equity across Italy. “T
TetraMem Announces 22nm Multi-Level RRAM Analog In-Memory Computing SoC Milestone16.5.2026 10:43:00 CEST | Press release
TetraMem Inc., a Silicon Valley–based semiconductor company developing analog in-memory computing (IMC) solutions, today announced the successful tape-out, manufacturing, and initial silicon validation of its MLX200 platform, a 22nm multi-level RRAM-based analog IMC system-on-chip (SoC). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260516556464/en/ Photograph of the MLX200 chip with a five-cent coin for size reference The achievement marks a significant step toward the commercialization of analog computing architectures based on emerging non-volatile memory technologies, addressing the growing challenges of data movement, power consumption, and thermal constraints in modern AI systems. As AI workloads continue to scale, system performance is increasingly constrained by the cost of moving data between memory and compute units. Analog in-memory computing offers a fundamentally different approach by performing computation dir
STARTEEPO Invest Announces 5% Stake in Xerox Holdings Corporation15.5.2026 18:15:00 CEST | Press release
STARTEEPO Invest (“STARTEEPO”), an alternative investment fund focused on public equity opportunities, today announced that it has acquired a significant ownership position in Xerox Holdings Corporation (“Xerox” or the “Company”). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260515594020/en/ As of the date of this release, STARTEEPO and its affiliates beneficially owns 6.6 million shares of Xerox (excluding options), representing approximately 5.05% of the Company’s outstanding common stock. STARTEEPO has filed a Schedule 13D with the U.S. Securities and Exchange Commission (the “SEC”) providing additional details regarding its investment. Investment Perspective STARTEEPO believes that Xerox represents an interesting investment opportunity supported by a combination of balance sheet initiatives, ongoing operational improvements, and its position within a changing and consolidating industry. In STARTEEPO’s view, the Company
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom